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'Hawai Chappal And Mercedes Can’t be Taxed at Same Rate', Jaitley on Two Years of GST Rollout

Former finance minister Arun Jaitley on Monday said that the Goods and Services Tax (GST) proved to be both consumer and assessee friendly. On the second anniversary of GST rollout, Jaitley in his latest blog titled ‘Two Years After GST’ said,”After two years, one can confidently argue, without fear of contradiction that GST proved to be both consumer and assessee friendly. The high taxation of pre GST era pinched the consumers’ pocket and acted as a disincentive against tax compliance. The last two years have seen each of the meetings of the GST Council reducing the tax burden on consumers as the tax collections improved.” In a veiled attack on Congress party which had been criticising the GST, ever since it came into effect from July 1, 2017, Jaitley said,”Those who argued for a single slab GST must realise that a single slab is possible only in extremely affluent countries where there are no poor people. It would be inequitable to apply a single rate in countries where there are a large number of people below the poverty line.”........Read more